Ripple CEO talks $500M raise, recent acquisitions and past SEC win at Swell
Ripple Monthly Overview - November 7, 2025
Welcome to the Ripple Overview.
Every month, we dive deep into Ripple, XRP, XRPL, RLUSD and more to bring you the latest on ecosystem developments, updates, metrics, insights and more.
Ripple by the numbers
$XRP: $2.20 (-23.11%)
XRPL TVL: $74.84M (-26.38%)
XRP Holders: 483.90K (+1.90%)
XRPL Unique Active Accounts: 22.61K (-4.23%)
XRP Payment Volume: 903.23K (+1.38%)
These metrics are accurate upon publication. The percentages are based on month-over-month changes, unless noted otherwise.
What Caught Our Eye This Month
Ripple secured a $500 million investment from Fortress and Citadel Securities: This major funding round brings two financial powerhouses to Ripple’s cap table, and enables the network to expand its blockchain payment infrastructure and strengthen its position in the cross-border payments market.
Ripple partnered with Mastercard, WebBank, and Gemini for RLUSD settlement: This collaboration combines Ripple’s technology with Mastercard’s global payment network, WebBank’s banking infrastructure, and Gemini’s crypto expertise. The partnership enables faster, more efficient stablecoin transactions using RLUSD across traditional and digital financial systems.
Ripple Custody acquired Palisade to expand digital asset custody solutions: This acquisition strengthens Ripple’s institutional custody offerings by integrating Palisade’s security infrastructure and expertise.
Ripple Rundown
Ripple CEO Brad Garlinghouse on building the bridge between TradFi and crypto
At the Ripple Swell conference in New York City, Ripple CEO Brad Garlinghouse laid out his vision for the company: a leading blockchain infrastructure company for enterprises and financial institutions. This year marked regulatory victories and multiple strategic acquisitions, positioning the company to capture market share as traditional finance increasingly moves onchain.
The regulatory turning point
Garlinghouse highlighted how its recent legal victories with the SEC have changed the playing field. “That victory had a huge impact on unlocking the industry’s ability to move forward and play offense,” he said, noting the visible shift in institutional attendance at the conference.
But he emphasized that there’s a lot of work ahead. While the U.S. government is taking a friendlier stance, Garlinghouse said “for the largest financial institutions to lean in permanently, we’ll need that final step” in the form of codified law that provides lasting regulatory clarity.
Building through acquisition
Ripple has been aggressively expanding its capabilities with four strategic acquisitions this year, buying Palisade, Gtreasury, Rail, and Hidden Road. These deals aimed to build comprehensive blockchain and digital asset infrastructure.
The Palisade acquisition, announced during the conference, extends Ripple’s custody capabilities beyond tier one banks like HSBC and BBVA to serve a broader customer base.
Meanwhile, the acquisition of brokerage Hidden Road is meant to bridge traditional and decentralized finance. Garlinghouse noted that the vast majority of Ripple’s business doesn’t come from digital assets. Since the company operates as a full-service prime brokerage offering FX, derivatives, and fixed income products, it gives Ripple direct access to traditional financial institutions that have been cautious about entering crypto.
TradFi allies join Ripple
Ripple Swell also saw the company announcing the $500 million investment led by Fortress and Citadel. “These are truly the leading financial players and architects of financial trading,” Garlinghouse said. “For them to come along with us as partners and allies is a very big deal.”
This backing from Wall Street’s largest financial institutions underscores that Ripple’s approach of focusing on regulatory compliance and leaning into traditional finance is resonating.
The opportunity ahead
Garlinghouse sees massive room for growth. “Over 50% of financial institutions still have zero exposure to crypto,” he said, adding that he views this as “tailwinds for the entire industry.”
While Ripple has expanded beyond its origins as a cross-border payments provider into custody and broader infrastructure, Garlinghouse reaffirmed that “XRP is at the heart and soul of what Ripple is doing.” The company remains focused on driving velocity, liquidity and utility for XRP while building the rails that institutions need.
Want to learn more about Ripple?
CME Group XRP futures saw over 567K contracts traded, $26.9B in notional volume, and options on the contracts since launching five months ago
Brale announced regulated stablecoins are live on the XRPL to settle RLUSD across XRPL and Ethereum
Ripple launched digital asset spot prime brokerage for the United States
Explore how VERT Capital is expanding Brazil’s digital credit market on the XRPL
Follow Ripple and visit their website to explore additional opportunities.
XRP Ledger Developments
Look into the biggest announcements, developments and more happening within the Ripple
Check out this X post on the XRPL EVM’s first quarter on mainnet about uptime, dapp adoption, crosschain volume, and new upgrades unlocking Cosmos EVM and DeFi integrations
Watch this Onchain Economy episode featuring Arthur Sabintsev, CEO of Grove, to learn how his team is building decentralized infrastructure for the XRPL EVM sidechain
Tune into the All About Blockchain podcast with Professor Yang Liu of Nanyang Technological University to explore how AI can enhance the XRP Ledger by enabling smarter fraud detection, sharper analysis, and new forms of onchain intelligence
Watch this demo of XRPL’s Multi-Purpose Token (MPT) system on Mainnet, showcasing token creation, authorization controls, payments, clawbacks, and compliance features
Enter The XRPL Community
Want to build on the XRP Ledger? Visit the XRPL learning portal for more info on documentation and tools. Or go further down the rabbit hole:
Join the $200K XRPL Attackathon with Immunefi and XRPL to secure the proposed XRPL Lending Protocol
Tune into XRPL Lounge X Space on AI agents on XRPL
Attend Singapore Fintech Festival to meet the Ripple team
To get this newsletter delivered to your inbox, subscribe here.
This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.